January in December

It was like January in December. In the weeks
before Christmas, when retail sales are usually at their highest,
retailers were cutting prices as though it were slackest of seasons.
Consumers who expect such cuts as their just due in January had
bargains galore to give as Christmas presents.

As usual, prices of luxury items such as furs (see Furs), were first to
fall. In New York, Gimbels marked jewelry prices down 75%. The
midwinter mail-order catalogues were loaded with price cuts up to 49%
on soft goods. (Montgomery
Ward reduced women's cloth coats 30%.) Most surprisingly, some stores
reduced toys...